Let's analyze the given statements regarding the BRICS grouping to determine their correctness.

Understanding the BRICS Grouping

BRICS is an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. Initially, it was known as BRIC before South Africa joined. It represents a significant portion of the world's population and economic activity.

Analyzing BRICS Statements

Statement 1: The First Summit of BRICS was held in Rio de Janeiro in 2009.

To evaluate this statement, we need to know the details of the first BRICS summit. The first formal summit of the BRIC countries (before South Africa joined) took place in 2009.

• The First BRIC Summit was held in Yekaterinburg, Russia.
• The year was indeed 2009.
• Rio de Janeiro hosted the 6th BRICS Summit in 2014.

Therefore, the location mentioned in the statement, Rio de Janeiro, is incorrect for the first summit, although the year 2009 is correct for the first BRIC summit. Thus, Statement 1 is incorrect.

Statement 2: South Africa was the last to join the BRICS grouping.

Let's examine the timeline of countries joining the BRICS group.

• The term BRIC was coined in 2001, referring to Brazil, Russia, India, and China.
• These four countries held their first summit in 2009.
• South Africa was invited to join the group in December 2010.
• South Africa officially joined and attended its first summit as a full member in 2011, leading to the group being renamed BRICS.

While BRICS expanded to include new members (Egypt, Ethiopia, Iran, Saudi Arabia, UAE) in 2024, in the context of the original BRICS formation consisting of Brazil, Russia, India, China, and South Africa, South Africa was indeed the last country to join this core group. Therefore, Statement 2 is correct.

Conclusion on BRICS Statements

Based on the analysis:

• Statement 1 is incorrect because the first BRIC summit was in Yekaterinburg, Russia, not Rio de Janeiro.
• Statement 2 is correct as South Africa was the last country to join the initial BRIC group to form BRICS before the 2024 expansion.

Thus, only Statement 2 is correct.

Revision Table: Key BRICS Facts

Additional Information on BRICS Evolution

The BRICS group has evolved since its inception. Understanding its membership history is crucial.

• Initially formed by Brazil, Russia, India, and China.
• South Africa's inclusion in 2010/2011 marked a significant expansion, making it BRICS.
• More recently, in January 2024, the group expanded further to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, although Argentina was also invited but declined.
• The question refers to "a grouping of countries known as BRICS," which commonly refers to the BRICS 5 before the recent expansion. In this context, South Africa was indeed the last to join.

Studying the history of international organizations like BRICS helps in understanding global economic and political dynamics.